Can't reproduce on a Nexus 7 or Nexus 9, both running Android 5. I think it depends on the precision of the hardware. What actual device models have you tested on?
I can confirm this bug still exists and affects iPhone 6s and iPod Touch 5th Generation hardware.
It appears to be the precision of the 'seconds' variable in effects which use this variable that degrades.
If it helps, I timed the degradation. It becomes very visible within roughly 1 minutes and 20 seconds. Restarting or changing layouts doesn't help. It appears to be a time connected to the entire app's lifetime.
Considering this time variable 'seconds' is used in an effect which we can presume is likely going to be "looping", couldn't we reset the variable within a particular loop period to reset the precision?